No More Colt Bailouts

I just finished reading "Colt Union Seeks Help From State" [July 31, Page 1]and it is time to end the foolishness. This would be the fourth time and has already cost the state more than $20 million. When does it end?

Mike Holmes the UAW shop chairman is also on the Colt board of directors. Therefore, the union is directly involved in the current situation and must have been aware of all aspects of it. It is self-serving to now seek state funds in the name of the workers, again.

Colt has a proud history but is not and has not been competitive for years, bouncing from bankruptcy to bankruptcy. The best solution is for it to be acquired by a larger better managed company or allowed to ride off into the sunset. No more bailouts.